Marico Ltd, a leading fast-moving consumer goods company, saw its share prices see significant upward movement on domestic stock markets following the release of its results for the fourth quarter of the financial year. The company's stock jumped close to 10% on both the BSE and NSE exchanges on the back of better-than-expected quarterly performance.
Consolidated net profit for the January to March period rose around 5% year-on-year to ₹320 crore. Total revenue during the quarter held steady at ₹2,278 crore, keeping it on par with levels observed in the corresponding period of the previous year. Costs were also marginally lower, thereby aiding bottom line growth.
Domestic sales volumes continued to trend higher during the three month duration, with underlying growth of approximately 3%. This demonstrates the company's ability to steadily expand its consumer reach. Among sectors, FMCG was one of the few gainers on the exchanges, indicating favorable investor sentiment towards the sector.
The strong Q4 showing helped lift investors' confidence in Marico's overall progress and prospects. The upward share movement places the company in a stronger position going forward. Ongoing focus on driving profitable growth through its portfolio of trusted brands is likely to continue rewarding stakeholders over the long term.
